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NYMEX HO (V19): Retracing Monday's........>

OIL TECHS
OIL TECHS: NYMEX HO (V19): Retracing Monday's spike
*RES 4: $2.1513 - 1.618 projection of Sep 3 - Sep rally from Sep 12 low
*RES 3: $2.0999 - High Sep 17
*RES 2: $2.0277 - Intraday high during the US session, Sep 17
*RES 1: $2.0025 - High Sep 18
*PRICE: $1.9774 @ 07:02 BST Sep 19
*SUP 1: $1.9594 - Low Sep 18
*SUP 2: $1.9529 - High Sep 11
*SUP 3: $1.9168 - High Sep 12
*SUP 4: $1.9044 - Trendline support drawn off the Sep 3 low
HO activity is quieter, in contrast to the volatile period earlier this week.
The contract is expected to continue unwinding Monday's risk related spike.
$1.9634, Sep 10 high was breached yesterday and this fills and initial gap in
the chart. A deeper sell-off would open $1.8910, Sep 13 high to fill the entire
gap in the chart left by Monday's spike. On the upside, initial resistance is at
yesterday's $2.0025 high.

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